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Watch | Higher crude supports upstream oil stocks, downstream outlook weak: Probal Sen
ICICI Securities energy analyst Probal Sen said crude prices around $75 per barrel are unlikely to trigger windfall taxes, supporting upstream companies such as Oil and Natural Gas Corporation (ONGC) and Oil India. However, he expects near-term pressure on downstream and gas companies as rising liquified natural gas (LNG)-linked input costs could impact margins. Sen remains cautious on the sector over the next three to six months but maintains a constructive long-term view on Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and city gas distributors.
Nifty tests support zone amid corrective market phase; cautious week seen ahead
Nifty closed lower after sustained selling, staying above long-term averages but showing short-term weakness below key resistance. Technical indicators suggest consolidation with corrective bias. Energy, infra and financials show relative strength, while IT, auto and midcaps lag in near term.
Why global capital is looking at India differently this year
India's economic resilience, fueled by digital infrastructure and evolving regulations, is attracting global capital. The latest budget reinforces this, with initiatives like GIFT City offering fiscal clarity and regulatory certainty. This focus on long-term institutional choices and data integrity signals India's readiness for global financial integration, moving beyond 'emerging market' status.
Live: Brent Hits $95 After US-Iran Escalation | Gold Slides | Nifty Set for Cautious Open| Opening Bell
Wall Street heads into the opening bell under pressure after a sharp selloff on Wednesday, with all three major U.S. indexes falling more than 1%. Technology and semiconductor stocks remained weak, while escalating tensions in the Middle East added another layer of uncertainty for investors. The Dow Jones Industrial Average tumbled 953 points (-1.87%) to 49,918.78, the S&P 500 dropped 119.66 points (-1.62%) to 7,266.99, and the Nasdaq Composite slid 509.32 points (-1.98%) to 25,169.50. Investor sentiment remains cautious as markets assess the implications of fresh U.S. strikes on Iran and Iran's announcement of the closure of the Strait of Hormuz. The developments have pushed oil prices sharply higher, raising concerns that elevated energy costs could fuel inflation and keep interest rates higher for longer. The U.S. dollar traded cautiously as investors balanced geopolitical risks against the Federal Reserve's rate outlook. Meanwhile, gold extended its decline, hitting a more than six-month low as rising oil prices and inflation fears dampened expectations for near-term monetary easing. Markets are expected to remain highly sensitive to geopolitical headlines, energy price movements, and interest-rate expectations as trading gets underway.
Trade Spotlight: How should you trade Ather Energy, Alembic Pharma, GMR Airports, Gujarat Fluorochemicals, Mankind Pharma, and others on July 1?
The market is likely to remain range-bound as long as it trades below the previous week's high. Below are some short-term trading ideas to consider.
Trade Spotlight: How should you trade Rain Industries, IFCI, Cemindia Projects, Supriya Lifescience, Thermax, and others on June 1?
The market may consolidate further as long as it remains below short-term moving averages, with support placed at the May low. Below are some short-term trading ideas to consider.
JSW Energy: Renewable expansion, storage push strengthen earnings visibility
Aggressive commissioning plans and rising long-term contracted capacity position the company well for sustained earnings growth
Taking Stock: Sensex, Nifty end flat ahead of RBI policy; consumer durables, capital goods shine
More than 120 stocks touched their 52-week high on the BSE, including Cemindia Projects, Nippon Life India Asset Management, Jindal Saw, HFCL, Syrma SGS, Laurus Labs, Polycab, Vodafone Idea, Federal Bank, IFCI, JK Bank, Welspun Corp, RBL Bank, among others.
Power Grid Corporation: Poised for next capex cycle as India’s energy transition accelerates
Strong order inflows, rising capitalisation, and renewable energy transmission projects improve long-term earnings visibility
Shaily Engineering: Scaling up for a much larger opportunity
Near-term growth visibility remains high, long-term risks are rising
Trade Spotlight: How should you trade Zydus Lifesciences, Laurus Labs, Global Health, Ather Energy, Info Edge India, and others on June 24?
The market is expected to consolidate with range-bound trading as long as it trades below the previous week's high. Below are some short-term trading ideas to consider.
Larsen & Toubro: Middle-East conflict to affect near-term earnings
A strong order book and strategic roadmap keep the long-term growth story intact